Skip to main content

Mamata Banerjee launches 51 Canara Bank branches in rural

Chief Minister of Bengal Mamata Banerjee has launched 51 new panchayat branches of Canara Bank in the rural unbanked areas to save rural people from being duped by chit funds

Related Category: Sub Category:

Chief Minister Mamata Banerjee of Bengal has launched 51 new panchayat branches of Canara Bank in the rural unbanked areas of her state with the aim to save rural people from being duped by chit funds.

Recently, banks pointed out to the state finance minister during state-level bankers' meet that the chit funds were expanding in full pace and for which the banks were unable to mop up enough deposits. Following the Saradha collapse in April 2013 and several hundred chit funds busted, the Chief Minister became rather worried.

Banerjee said, “The government is providing a ready clientele to the banks as we are giving all the regular funds like pensions, scholarships, stipends and even the wages of 100 days work through the banks. There are several villages without banks and for that the government wants the banks to operate even through mobile vans.”

Bank, however, have pointed out that without proper security assistance from the state government, they cannot operate mobile banks. According to the industry insider, bank officials are worried with the law and order situation, as they feel that the mobile vans can be looted mid-way.

Votes with an average with
For more updates, be socially connected with us on
WhatsApp | LinkedIn | Twitter | Facebook

Related Story

COVID-19: Centre promotes Direct Marketing to decongest agri mandis, Photo: Shutterstock
COVID-19: Centre promotes Direct Marketing to decongest agri mandis

In the wake of maintaining social distancing during the trade of agricultural produce amid COVID-19 pandemic, the Department of Agriculture, Government of India has written to the state…

COVID-19: KVIC procures cocoon from Tamil Nadu farmers
COVID-19: KVIC procures cocoon from Tamil Nadu farmers

At a time when the country is struggling hard with COVID-19 pandemic, Khadi and Village Industries Commission (KVIC), an autonomous body under Ministry of MSME, in collaboration with its Khadi…

FARMING BY SATELLITE launches ideas competition
FARMING BY SATELLITE launches ideas competition

Aimed at young farmers as well as trainees and students, principally in the fields of IT, mechanical engineering and agricultural sciences, European GNSS Agency (GSA) and European Environment…


The website encountered an unexpected error. Please try again later.